Wildberries eyes entering Chinese market — source
MOSCOW, August 17. /TASS/. Russia’s largest online retailer Wildberries is exploring possibilities to enter the Chinese market and has already begun negotiations with potential partners, a market source familiar with Wildberries' plans told TASS.
"The company has plans to enter the Chinese market. Negotiations with potential partners have already begun," the source said.
A spokesman for Wildberries declined to comment.
According to data from the registry on the website of the National Intellectual Property Administration of China, back in 2021, the company filed applications for registration of its trademark in the country in various classes in line with the International Classification of Goods and Services.
Wildberries has been operating on the market since 2004. Its presence geography covers all Russian regions, as well as Belarus, Kazakhstan, Armenia, Kyrgyzstan, Uzbekistan, Israel and Azerbaijan. Its turnover for 2022 soared by 98% compared to the previous year and amounted to 1.669 trillion rubles ($17.9 bln).
Photo by Peter Kovalev/TASS